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Sale of Sacramento Kings finalized

Posted on May 31, 2013 by dougl

(Sacramento, CA) — The sale of the Sacramento Kings is now complete. The Maloof family announced the closure of escrow on the deal today. It includes the family’s 65-percent controlling interest in the club to a Sacramento investor group. The sale price equates to an NBA-record valuation of more than 534-million-dollars. The Maloofs had been majority owners of the Kings for 14 years. The team was sold after NBA owners rejected a proposed sale and relocation of the club to Seattle.